The Future of Futures
The current financial system is built on a pile of paper IOU's and debt, instead of the "you either have it or you don't" mentality of yesteryear.
Contracts such as those used for silver futures prices are based on the intent (they say promise) to deliver at a later date.
However, it appears to be an ever increasing juggling act where more futures contracts are being created then can be delivered. The way that the people involved are managing and getting away with it so far is to convince you to either roll it over into the next contract or they force you to accept cash instead rather than deliver the physical goods. Even if you really need the physical product, like silver bullion, then you will still be forced to take cash due to the get out clause in the contract's small print.
Because there is no limit to how many imaginary numbers you can create, the current paper system has grown so huge it is hard to define. For example, just for derivatives alone there exists a total outstanding value of USD$ 1.4 Quadrillion!
I believe the gold and silver futures prices system will fail when the global economy starts to go down hill. People will either buy the bullion on the spot or group to take legal action about being forced to take cash.
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